4 Things You Need To Know About Snow Removal Insurance

Construction Marketing

Having snow removal insurance is important, considering the risks and dangers of snow removal and deicing. This article will show you the things you need to know about snow removal insurance. . What Is Snow Removal Insurance? Why Is Snow Removal Insurance Important?

Factors to Know About Crane and Rigging Insurance

Construction Marketing

Fortunately, crane and rigging insurance provide protection and compensation. However, understanding these insurance policies is key to maximizing your benefits. What is crane and rigging insurance? Mobile and tower crane operator insurance. Construction Insurance

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Insurance Industry Locations: Shaping The New World Of Insurance

Business Facilities

The Hartford Region is home to the headquarters of most of the leading global players in the insurance sector. The insurance industry generates more than $16 billion in output in the region, employing more than 70,000.

9 Types of Insurance You Need to Protect Your Contractor Business

Construction Marketing

Between the potential for accidents and injuries on the job site and the risk of lawsuits, it’s important to have insurance to protect yourself from financial losses, but what kind of insurance do you need? General Liability Insurance. Builders Risk Insurance.

How to Get Large Group Health Insurance Plans for Contractor Business Employees

Construction Marketing

If you, as an employer, have 1099 employees on your staff from time to time, you may be wondering whether you are required to provide health insurance to them. Do Employers Have to Provide Health Insurance to Contracted Employees? Resource 1099 employees Health Insurance

Zurich Parametric Insurance Covers Weather Delays

Construction Equipment

Zurich North America offers Construction Weather Parametric Insurance does not require physical loss or damage in order to claim weather-related losses.

Finance & Insurance: Fintech’s Future Is Now

Business Facilities

Biometrics, artificial intelligence and blockchain are being embraced by the financial services and insurance sectors, fueling a wave of fintech startups.

How to Use Telematics to Reduce Insurance Costs

Construction Equipment

Insurance companies offer usage-based insurance (UBI) in the automotive industry, but heavy equipment managers will probably not find anything similar for several years. UBI uses telematics to tie insurance costs to the way a vehicle is operated.

ARA Insurance Chief Announces Retirement

Construction Equipment

The president/CEO of American Rental Association Insurance will retire at the end of February. Kelling has been with ARA Insurance since 1997, and led ARA Insurance to grow from a small insurance agency with four independent agents to

6 Insurance Issues to Monitor as Conflict Unfolds in Ukraine

Construction Business Owner

6 Insurance Issues to Monitor as Conflict Unfolds in Ukraine. In addition to disrupting the global geopolitical picture, Russia’s attack on Ukraine has brought several insurance issues to the forefront hirvin. Mon, 04/25/2022 - 11:10.

Proactively Tailoring Your Insurance Plan to Intercept Future Risk

Construction Business Owner

Proactively Tailoring Your Insurance Plan to Intercept Future Risk. hirvin. Tue, 06/14/2022 - 13:49. Construction projects run on a strict timetable.

How to Get Insurance for your Construction Equipment

The Constructor

If you’re a part of a construction company, you must realize how important it is to have reliable equipment. Without the right tools and. Construction Engineering & Management Construction Equipments

#109:  Liability Insurers' Duty to Defend

NH Construction Law

When a contractor or subcontractor is sued for defective workmanship, one of his first thoughts is likely to be whether the damages are covered by his liability insurance. As I have noted elsewhere ( Blog # 37 ), the cost of repairing defective work itself (as opposed to the cost of addressing any resulting damage to other property) is rarely covered by the defendant’s insurance policy. Vermont Mutual Insurance Co. ,

Integrated Project Insurance v Integrated Project Delivery

Collaborative Construction

How does integrated project insurance differ from integrated project delivery? How does Integrated Project Insurance differ from Integrated Project Delivery? Integrated project insurance (IPI) protects integrated project delivery (IPD) teams from risks related to catastrophic natural disasters or project related accidents. The same is true of insurance products available to integrated teams. Integrated Project Insurance (IPI) appears to be a response to that mandate.

Recycled Restaurant Waste Cooking Oil Can Trigger Insurance Pollution Exclusion

Green Building Law Update

In a case having broad implications given the wide mandatory recycling of restaurant waste cooking oil across the country, in a decision filed on April 29, 2019, a federal appeals court held that contaminated recycled fat could trigger the “pollution exclusion” in an insurance policy. Restaurant Recycling, in turn, sued Employer Mutual Casualty Company, seeking a declaratory judgment that the insurer had a duty to defend and indemnify Restaurant Recycling.

5 Tips for Filing a Roof Replacement Insurance Claim

Construction Marketing

Filing a roof replacement insurance claim may be your only chance of taking care of the necessary repairs and renovations, especially after a huge storm, water damage, or other calamities and catastrophes. This having been said, here are 5 tips for filing a roof replacement insurance claim. It’s important that before you file for roof replacement claim, take into account the particulars of the homeowner’s insurance policy. Contact the Insurance Policy.

FEMA Moves to Improve Flood Insurance Program

Pro Builder

FEMA Moves to Improve Flood Insurance Program. NAHB Policy Brief | The next phase of the National Flood Insurance Program is supposed to better reflect the actual risks to properties; builder confidence increased during April. . mbeirne. Mon, 05/10/2021 - 06:00.

With Big Claims, Designer Insurance Costs Can Only Go Up

ENR Construction

More than half of insurers surveyed in new study by broker Ames & Gough report claim severity was worse in 2021 than the prior year, with half saying they raised premiums 6% to more than 10

Ensuring Adequate Insurance Coverage

Green Industry Professionals

Tips on how to make sure your business and its equipment have the proper insurance coverages, without paying unnecessarily high premiums or putting yourself at risk

Managing Rising Construction Costs: Insurance

Pro Builder

Managing Rising Construction Costs: Insurance. Builders and remodelers carry insurance policies that cover risks for the project, and coinsurance clauses, which are in many policies, say the builder should maintain coverage up to a specific value.

Insuring Unmanned Aircraft Exposures

Construction Business Owner

Drones are well suited for applications in construction, agriculture, energy, wireless communications, insurance, search and rescue, law enforcement, firefighting, real estate, photography and film Unmanned aircraft systems (UAS), commonly referred to as drones, represent an enormous growth industry with potential uses across many trades.

Can A New Construction Insurance Policy Cut Delay and Estimating Risk?

ENR Construction

An insurance giant says its new project loss insurance can address estimating errors

Pollution Legal Liability Insurance More Valuable as a Result of High Court Ruling

Green Building Law Update

Insurance companies cannot recover environmental cleanup costs paid to their insured under the federal Comprehensive Environmental Response, Compensation and Liability Act, commonly known as Superfund, from another Potentially Responsible Party ( unless their insured had first pursued a separate claim to recover the cleanup costs from that PRP). Among the most common of the insurance coverages is a pollution legal liability policy.

Integrated Insurance Products Needed

Collaborative Construction

Many of those challenges, even the insurance conundrums raised in this post, can be addressed through integrated agreement. Here, I want to highlight the need for a new generation of integrated insurance products designed to protect integrated team members. A new insurance product is needed. Currently integrated team members are insured under separate policies, and there are no insurance products available on the US market that fit the needs of an integrated team.

Climate Emergencies Are Pushing Insurance Rates Higher for Migrating Retirees

Pro Builder

Climate Emergencies Are Pushing Insurance Rates Higher for Migrating Retirees. Homes at risk of extreme weather emergencies are becoming harder to insure, forcing some homeowners to accept higher rates, and leaving others entirely without coverage.

Construction Insurance Rates Predicted To Increase

Construction Law Monitor

According to a recent Press Release from Marsh , a leader in insurance broking and risk management, construction firms across the U.S. Insurance rates have been declining for close to a decade, but rates are forecasted to increase between 8 and 10 percent. Construction Practice, stated, “This comes against the backdrop of medical cost inflation and changes to some state statutes that have extended coverage beyond the insurers’ originally intended scope.”

Project Running Late? Don't Be Shocked When Trying to Extend the Insurance Coverage

ENR Construction

Project extensions are becoming more difficult in today’s property/casualty insurance market

11 Areas of Cyber Insurance You Should Know More About

Construction Business Owner

Twenty years ago, no one had heard of cyber insurance, and a hacker was someone with a cough. As recently as 10 years ago, many people still did not know how exposed they were to clandestine attacks on their data

Travelers Insurance Wants to Pay You to Use Procore

Construction Junkie

Well, now at least one insurance company believes that, as well. I’ve admittedly been focused mainly on the productivity gains from using technology, but getting a discount from an insurance company to use it is an interesting side effect. courtesy of Procore.

7 ways to prevent construction insurance losses

Construction Dive

Here are the major insurance issues to consider to avoid financial setbacks, as well as damage to professional and personal relationships

Why your general contractor needs to have insurance

Lets Build

Guest posts contractor general contractor insurance main contractorWhile it’s true that life is a gamble, you should never risk what you can’t afford to lose. This principle holds weight in many different aspects of life, especially those that involve substantial risk – hiring a general contractor included. Though it’s relatively cheaper, going for an uninsured contractor isn’t a good idea. When you.

Insurance App Tracks Driver Behavior

Construction Equipment

Arity, a spin off from Allstate Insurance, currently watches more than a million drivers for Allstate and online Esurance. With that data, Arity assigns individual drivers a score, similar to credit a score, with which Arity's insurance company clients are able to base their rates on their customer's actual driving behavior Telematics data is collected from drivers who have agreed to let Arity monitor their driving habits in exchange for better rates.

Louisiana Contractors – Workers Compensation Insurance

Construction Law Monitor

Back in 2009 this blog reported on the very topic of Workers Compensation insurance, stating that 1 and 5 businesses are breaking workers compensation laws. The main reason being is due to the exorbitant price of this insurance on contractors. Although the price to insure all employees under workers comp insurance is high, the price that is paid if an accident happens to an uninsured worker is much higher.

Eye on Winter Auto Insurance

Green Industry Professionals

Tips to save money and pick the right insurance for your winter snow removal business

2016 Insurance Trends

Construction Business Owner

The construction insurance market is responding positively to these efforts, rewarding owners and builders that are operating their businesses efficiently and managing their risks properly with lower insurance premiums, broader coverage and higher limits As the United States construction market heats up, there is a renewed focus on improving operational efficiencies and embracing risk management strategies that could offer a meaningful financial impact.

Get Additional Insured Language Right

Construction Business Owner

General contractors, subcontractors and business owners risk substantial financial loss if they enter into contracts that are not supported by their insurance program. This risk has increased since the Insurance Services Office (ISO) made significant revisions to Additional Insured Endorsement forms in 2013, creating even more unexpected exposures and liabilities

Insurance Broker Stole Brooklyn Contractor's Payments, Indictment Alleges

ENR Construction

The insurance broker is accused of stealing $350,000 from his client, a Brooklyn contractor

Virus Pandemic Insurance Could Fill Gaps in Builders’ Risk Policies

ENR Construction

One pandemic insurance product was introduced in 2018

Tropical Storm Lee – Prepare for Insurance Claims

Construction Law Monitor

Contractors who have equipment, property and unfinished work need to report any flood, wind or wind driven rain damage to your general liability insurer in a timely fashion so that you may collect reimbursement for damages sustained from this storm. Your insurer will assign a claims specialist to assess the damage and this person is who you will work with to obtain reimbursement. Remember to consult with an attorney or your insurance agent when reviewing the terms of your policy.

Insurer Facing BIM - Where Are the BIM & IPD Friendly Insurance Products?

Collaborative Construction

If BIM is the New Standard of Care what the HE double sticks are the insurance companies doing? New insurance products that support and enable the creation of integrated teams and the delivery of BIM in an IPD environment won''t happen if the built industry sits back and waits for the insurance industry to respond. Insurance companies and their lawyers are inherently risk averse and want nothing to do with anything new.